Three Keys to Retail Success: Authenticity, Consistency, and TrustI love to shop. I like going to the mall so I can browse in the windows of my favorite shops, find a great sale, and imagine what it would be like to walk into Louis Vuitton and pick out the latest handbag. I also enjoy shopping online in my PJs, where I can search for the right dress in the right color and size and get it shipped to my house with just a few clicks of the mouse.
However, between work, family, and getting to the gym every now and then, it’s hard to find the time to shop for anything more than groceries most weeks. So, whether I’m shopping in the mall or online, I need to find exactly what I’m looking for quickly and easily – and for the best price.
The three keys to retail success
To help retailers meet the needs of busy consumers, like me, SAP explores three emerging principles of retailing success in a recently published e-book – Real-Time Retail. According to the company, retailers can achieve a competitive edge by becoming:
- Authentic to the brand value of your company
- Consistent in your interactions with customers
- Trusted by customers and partners
All of this can be achieved, SAP explains, by running your business in real time with accurate and up-to-the-minute data about every aspect of your business – from merchandising, marketing, and sales, to inventory, deliveries, and recalls.
Becoming a real-time retailer
Breakthrough technologies and a real-time retail platform can help you become a real-time retailer and, as a result, become more authentic, consistent, and trusted. With the latest technology innovations, you can:
- Spot trends and opportunities by instantly analyzing social media activity
- Create products and services built around genuine customer needs
- Choose and collaborate with suppliers more effectively
- Make better and faster business decisions by rapidly running “what-if” exercises via predictive and trend analyses
- Streamline and accelerate retail processes with integrated core business applications
- Maximize visibility across all channels to gain a single view of inventory and better understand customer needs
- Deliver on customers’ expectations to buy from any channel, anywhere, and at any time
- Build customer and brand loyalty on a personal, one-to-one basis
- Reduce risks for your products and people
- Improve transparency to customers and stakeholders
- Gain true traceability across the entire supply chain
- Secure customers’ data with robust data governance
Are you ready to transform your retail operations?
For an in-depth look at the three principles of retailing success – and the technology you need to support them – read the SAP e-book “Real-Time Retail.”
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